What is the Ethiopian Black Market rate today? As of January 2026, the Ethiopian Birr parallel market rate is 186.17 ETB per 1 USD. While the official bank rate has narrowed since the 2024 float, the black market still carries a 15–20% premium due to high demand for hard currency.
| Currency | Parallel Market Rate (ETB) | Official Bank Rate (Approx.) |
| USD (US Dollar) | 186.17 | 155.30 |
| EUR (Euro) | 218.23 | 180.03 |
| GBP (British Pound) | 250.59 | 206.20 |
| AED (UAE Dirham) | 50.69 | 42.11 |
| SAR (Saudi Riyal) | 49.64 | 41.21 |
| KWD (Kuwaiti Dinar) | 605.74 | 503.65 |
| CAD (Canadian Dollar) | 135.51 | 111.82 |
| CHF (Swiss Franc) | 235.06 | 192.27 |
| CNY (Chinese Yuan) | 26.62 | 21.87 |
This guide provides a comprehensive overview of the current currency landscape in Ethiopia as of January 2026. Following the historic floating of the Ethiopian Birr (ETB) in mid-2024, the gap between official bank rates and the parallel market has narrowed significantly, though a “premium” still exists in the informal sector.
Why is there a difference between bank and black market rates?
The difference between bank (official) and black market exchange rates for the Ethiopian Birr stems primarily from government controls limiting foreign currency supply in the formal banking system, creating shortages that drive up parallel market prices.
⚠️ Essential Disclaimer
Using the black market for currency exchange in Ethiopia is illegal. The National Bank of Ethiopia (NBE) and security forces have intensified crackdowns, which can result in:
- Confiscation of funds (both local and foreign currency).
- Legal prosecution and heavy fines.
- Risk of fraud: High circulation of counterfeit notes in unofficial channels.
Current Market Rates (January 2026)
While official bank rates are now market-driven and fluctuate daily, the parallel market (often referred to as the “black market”) typically carries a premium of 15% to 20% above the bank rate.
Why the Parallel Market Persists
Despite the government’s move to a floating exchange rate, the parallel market remains active due to:
- Forex Scarcity: While banks now have more freedom to set rates, they often face “queues” for large hard-currency requests.
- Import Demand: Many small-to-medium businesses still rely on informal channels to fund imports when bank liquidity is tight.
- Remittance Habits: A significant portion of the diaspora continues to use informal Hawala networks, though legal apps like United ET are gaining traction.
Where to Exchange Money Safely
For travelers and residents, the safest and now more competitive way to exchange money is through:
- Commercial Banks: (CBE, Awash, Dashen, etc.) Their rates are now much closer to “real” value than in previous years.
- Official Forex Bureaus: Independent bureaus are increasingly common in major cities like Addis Ababa.
- ATMs: Most international Visa and Mastercard cards work at Ethiopian bank ATMs, dispensing ETB at the prevailing official rate.
Frequently Asked Questions
Is the black market rate better?
While the rate is numerically higher, the risk of arrest or receiving counterfeit money often outweighs the 15-20% gain.
Can I pay in USD in Ethiopia?
Officially, no. Most businesses are required by law to accept only Ethiopian Birr. Large hotels may accept foreign cards, but cash payments should be in ETB.